Petrol and diesel prices were again hiked by 35 paise per liter on Saturday to take the retail rates across the country to a new record high. With this hike, petrol has now gone up to Rs 100 per liter or more in all state capitals, while diesel has touched 100 in a dozen states. Diesel in Goa and Bangalore is around Rs 100 per litre.
According to the price notification of the state-owned fuel retailers, petrol price touched its all-time high of Rs 105.49 per liter in Delhi and Rs 111.43 per liter in Mumbai. In Mumbai, diesel now comes for Rs 102.15 per litre; While its price in Delhi is Rs 94.22.
This is the third consecutive day of increase in the prices of petrol and diesel by 35 paise per liter. There was no change in rates on October 12 and 13. This is the 15th increase in petrol prices and 18th time in diesel prices since ending a three-week long gap in rate revision in the last week of September.
While the price of petrol is already above Rs 100 per liter in most parts of the country, diesel rates are at that level in a dozen states/UTs including Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Chhattisgarh. have crossed. Bihar, Kerala, Karnataka and Ladakh. Diesel now costs Rs 99.56 per liter in Panaji, Rs 99.97 per liter in Bengaluru and Rs 99.86 per liter in Silvassa.
Prices vary from state to state depending on the incidence of local taxes. Barring a minor price change policy, state-owned fuel retailers have started passing on major cost events to consumers from October 6.
This is because the international benchmark Brent crude is trading at $84.8 per barrel for the first time in seven years. A month ago, Brent was trading at $73.51.
Being a net importer of oil, India keeps petrol and diesel prices at par with international prices. The jump in international oil prices ended a three-week hiatus in rates for petrol on September 28 and diesel on September 24.
Since then the price of diesel has increased by Rs 5.6 per liter and that of petrol by Rs 4.30 per litre. Earlier, between May 4 and July 17, the price of petrol was increased by Rs 11.44 per liter. During this, the price of diesel was increased by Rs 9.14 per liter.
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